A letter of explanation for a mortgage is a document that addresses red flags that might derail a mortgage approval, such as a period of unemployment or an unpaid credit balance. A letter of ...

If you're buying a home and your lender asks for a letter of explanation (LOE), it doesn't necessarily mean you’re in trouble. Lenders often request letters of explanation to clear up simple details ...

Add Yahoo as a preferred source to see more of our stories on Google. If your credit report has any negative history, a lender may require a letter of explanation for a mortgage application. Needing a ...